Minnesota’s Multifamily Housing Faces Insurance Challenges
The Federal Reserve Bank of Minneapolis is hosting a virtual event on March 6, 2025, to examine the impact of escalating property insurance costs on the multifamily housing sector in Minnesota. The event, scheduled from 12:00 to 1:00 p.m. CT, will present findings from a recent survey and facilitate a discussion among industry experts.
This event aims to shed light on the significant increases in property insurance premiums and deductibles faced by owners and operators of multifamily rental properties in Minnesota. The Federal Reserve Bank of Minneapolis conducted a survey in the fall of 2024 to quantify these rising costs and gain insights into the industry’s response. The event will provide a platform to discuss the survey findings and explore potential policy interventions to ensure the continued viability of rental housing.
Event Details
- Date: March 6, 2025
- Time: 12:00 – 1:00 p.m. CT
- Format: Virtual video event
Event Program
- 12:00–12:03 p.m. CT: Welcome and Introductions
- Speaker: Hue Nguyen, Community Development and Engagement, Federal Reserve Bank of Minneapolis
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12:04–12:15 p.m. CT: Presentation: Property Insurance Survey Results
- Speaker: Christina Spicher, Community Development and Engagement, Federal Reserve Bank of Minneapolis
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12:16–12:46 p.m. CT: Panel: Discussion of Survey Results
- Moderator: Libby Starling, Community Development and Engagement, Federal Reserve Bank of Minneapolis
- Panelists:
- Commissioner Grace Arnold, Minnesota Department of Commerce
- Aaron Cocking, Insurance Federation of Minnesota
- Steve Minn, Lupe Development Partners
- Laura Russ, Aeon
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12:47–12:57 p.m. CT: Audience Q&A
- Moderator: Libby Starling, Community Development and Engagement, Federal Reserve Bank of Minneapolis
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12:58–1:00 p.m. CT: Closing Remarks and Thank You
- Speaker: Hue Nguyen, Community Development and Engagement, Federal Reserve Bank of Minneapolis
Panelists
Commissioner Grace Arnold, Minnesota Department of Commerce: Commissioner Arnold leads the Minnesota Department of Commerce, overseeing state industries and energy policy.
Aaron Cocking, Insurance Federation of Minnesota: As president and CEO of the Insurance Federation of Minnesota, Cocking advocates for the interests of property and casualty insurance companies.
Steve Minn, Lupe Development Partners: Minn brings expertise in affordable housing as vice president and chief financial manager of Lupe Development Partners.
Hue Nguyen, Federal Reserve Bank of Minneapolis: Nguyen leads the Community Development and Engagement department’s work to find policy solutions affecting low- and moderate-income communities and tribal nations.
Laura Russ, Aeon: Laura Russ joined Aeon as Chief Real Estate Officer in February 2023 and oversees housing development, property operations, and asset management.
Christina Spicher, Federal Reserve Bank of Minneapolis: Spicher is an intern in Community Development and Engagement at the Federal Reserve Bank of Minneapolis.
Libby Starling, Federal Reserve Bank of Minneapolis: Starling serves as Senior Community Development Advisor in Community Development and Engagement at the Federal Reserve Bank of Minneapolis.
